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In-house: Lloyds Banking Group sees knock-on effect at senior level as it fills GC for group legal role

In-house promotions and moves often have a domino effect across the entire legal function and Lloyds Banking Group (LBG) is no exception. The major British financial institution has most recently announced that former corporate M&A head Hugh Pugsley will take over as general counsel for group legal from Kate Cheetham, who was promoted to deputy general counsel in January this year.

Pugsley, a former associate at Magic Circle firm Allen & Overy, has moved up the ranks of the 60-strong team and will now be responsible for advising the global banking giant on financial reporting, M&A, corporate development, HR, and property-related issues.

The lawyer has a wealth of industry experience behind him, having previously led the corporate group for UBS’ Middle East North Africa region before joining LBG in 2010.

Meanwhile, Pugsley’s internal promotion follows LBG’s lateral hire of UBS Wealth’s disputes chief Philippa Simmons, who replaces dispute resolution head Aamir Khan after he left this summer for US legal process outsourcing provider Clutch to become its general counsel and senior director for the UK and Europe. Her appointment comes as LBG looks at options including outsourcing its retail & wealth and asset finance litigation teams.

Pugsley’s replacement has yet to be announced. A spokesman for LBG declined to comment.